Saturday, Jul 23, 2016
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Stocks gain on encouraging news on the U.S. economy

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Stocks close high due to good news about U.S. economy. Highlight is the Dow's third straight triple-digit gain.

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NEW YORK — Stocks are closing higher on Wall Street after investors got a double dose of good news about the U.S. economy.

The Dow Jones industrial average rose 114 points, or 0.8 percent, to close at 15,024 today. It was the third straight triple-digit gain for the Dow. The Dow is still down slightly for the month.

The Standard & Poor’s 500 index was up nine points, or 0.6 percent, at 1,613.

The Nasdaq rose 25 points, or 0.8 percent, to 3,401.

Consumer spending rose last month as incomes increased. Claims for unemployment benefits fell last week.

The yield on the 10-year Treasury note fell to 2.48 percent.

Five stocks rose for every one that fell on the New York Stock Exchange. Volume was lighter than average, 3.3 billion shares.

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